Bitcoin at 50%

25 Feb 2021

BTCUSD has retraced from the low it made off the last ATH to a 50% retracement level of the move. Some traders are shorting this and it is a logical choice. Traders can know that their risk lies just above the 50% in the 53k-54k range. Breaching this stop range would likely lead to a retest and possible break of the high. Holding this level is a sign to retest and break the low.